The office tower once at 1290 Sixth Ave. is joining the rapidly growing parade of street entertainment, food and games.
Owner Vornado Realty Trust signed a 15,300-square-foot lease with Five Iron Golf, the growing empire of indoor golf simulators and instructional facilities designed “to bring out the golfer in everyone,” as its founders describe it .
The location, the sixth in Manhattan, will be open to the public.
Avid golfer Donald Trump owns a passive 30% stake in 1290 Sixth, “But we suspect he won’t be able to make the Five Iron opening next year,” an insider said.
The latest addition is part of approximately $45 million in new tenant amenities at 1290 Sixth. The 52nd Street entrance will lead to an array of concourse-level green-lovers’ goodies, including a 6,000-square-foot, state-of-the-art fitness and wellness center, and a 3,000-square-foot ground-floor tenant lounge squares. .
Vornado’s plan for 1290 also includes a 12,000-square-foot “tablecloth” restaurant on the West 51st Street side, leased to an unnamed outside operator.
The tower also boasts a 230-person “town hall” meeting facility on a 17th-floor setback, where Vornado is building a 10,000-square-foot pavilion and landscaped terrace.
A Vornado source said the 1290 Sixth additions reflect a decision to “bring our Penn 1 and Penn 2 work-life features north.”
The redeveloped Penn Towers near Madison Square Garden has seen rapid leasing success, including a recent 36,000-square-foot deal with accounting firm Weaver & Tidwell.
Although the 43-story tower’s two million square feet is about 90% leased to tenants such as Neuberger Berman, King & Spalding and Cushman & Wakefield, our source said the recent exit of major user AXA made clear the need for types of multi-tenant required equipment such as those in Penn 1 and Penn 2.
Most offices seeking rent at 1290 Sixth range from $95 to $105 per square foot. Terms of the Five Iron lease were not released.
The changes at 1290 are in line with the remarkable revitalization of Sixth Avenue since the days when it was considered a bland, corporate corridor interrupted only by Radio City Music Hall.
The office towers north of 42nd Street are now home to restaurants like STK Steak, Del Frisco’s, Avra, Salt Bae’s Nusr-Et, and soon to be joined by Carnegie Diner — and something big at 1290 Sixth.
For calorie-free fun, there’s the MLB Store, an expanded Brooks Brothers and Rockefeller Center’s Rough Trade music store.
The corridor’s vacancy rate is between 10% and 11%, compared to a Manhattan average of 20%.
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